Aurora Comes Out of Bankruptcy, Is Now Pinnacle Foods Group Mar 22, 2004 (financialwire.net via COMTEX) -- (FinancialWire) Aurora Foods, Inc., a unit of J.P. Morgan Partners, itself a unit of J.P. Morgan Chase & Co. (NYSE: JPM), has emerged from Chapter 11 bankruptcy and is now named Pinnacle Foods Group, Inc.
The company makes Log Cabin syrups, Vlasic pickles, Aunt Jemima breakfast foods, Mrs. Butterworth's and Country Kitchen syrups, Lender's bagels, Van de Kamp's and Mrs. Paul's frozen seafood, Celeste frozen pizza and Hungry Man and Swanson frozen dinners, as well as Duncan Hines cake mixes.
The company also moved its headquarters from St. Louis to Cherry Hill, NJ.
The four-month restructuring "maximized value for our stakeholders and produced a strong branded food company that is re-energized and well positioned for future growth," said interim CEO Dale Morrison.
J.P. Morgan and J.W. Childs Equity Partners LP are investing $83.7 million for a controlling interest, and J.P. Morgan Partners bought Pinnacle for $485 million from Hicks, Muse, Tate & Furst, and merged them together.
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